A&F Snapshot │ July 2024

Hi Network,

Welcome to the July snapshot of the Eolas Accountancy & Finance market trends in Ireland.

With half the year already gone, it's a good time to look back on what's happened so far and plan for the busy season leading up to December.

June and July tend to be slower months, mainly because decision-makers are on holiday and half-year budgets are being prepared. But we’re expecting a rise in job opportunities as we head into the latter part of Q3.

I've been gathering information on the Accountancy & Finance recruitment market here in Ireland. I'm lucky to know and be friends with many fellow Finance recruitment colleagues across different agencies, and the insights are pretty consistent across the board.

For those new to these A&F Snapshots or if we have recently connected, I’m Mark Donnelly, heading the A&F team at Eolas Recruitment. My goal is to provide valuable insights and trends to help both job seekers and employers navigate the ever-changing finance sector.

Feel free to check out our May and June snapshots too.

Here’s a look at the current trends shaping the market:

Rising Demand for Financial Planning & Analysis (FP&A) Professionals - Companies are increasingly relying on FP&A professionals to guide strategic decision-making. These roles require a mix of strong analytical skills and business acumen. With the uncertainty in global markets, firms are seeking experts who can provide insights into financial performance, forecast future trends, and develop strategies to optimise business operations.

Emphasis on Risk Management and Compliance - Given the complex regulatory environment, there is a heightened focus on compliance and risk management. Professionals with expertise in regulatory frameworks, especially IFRS and local tax laws, are in high demand. The ability to navigate these regulations and ensure compliance is a significant asset to any organisation.

Growth in Sustainable Finance - The shift towards sustainability and ethical finance continues to gain momentum. Accountants who can manage and report on sustainability initiatives are becoming essential. This includes understanding the financial implications of ESG (Environmental, Social, and Governance) policies and integrating these into financial planning and reporting.

Technological Advancements and Digital Transformation - Technology is reshaping the finance sector. Skills in data analytics, cybersecurity, and financial software (like SAP and Oracle) are increasingly valuable. Professionals who can harness the power of automation and AI to streamline processes and enhance data-driven decision-making are particularly sought after.

Hybrid Working Models - I recently told a prospective new client that I wasn't the best recruitment partner to help them with their vacancy, I know that sounds mad but they had said they were struggling to fill their position, once I told them that the salary range was about €10-15K below the market, I asked what other benefits they offered... I asked about Hybrid working and their response was "I am not paying people to walk their dogs and look after their kids"..... Flexibility in work arrangements remains a critical factor for job seekers. Sadly, many companies that used to promote hybrid models are reducing in some sectors. This flexibility not only attracts top talent but also contributes to better work-life balance and employee satisfaction.

Skills in Demand

• Digital Proficiency: Skills in financial software, data analytics, and cybersecurity.
• Regulatory Knowledge: Expertise in IFRS, local tax laws, and compliance.
• Business Partnering: Ability to offer strategic advice and collaborate across departments.
• Sustainability Reporting: Skills in managing and reporting on ESG initiatives.
• Automation and AI: Experience in implementing and managing automation tools and AI in financial processes.

Salaries in 2024

Salaries in the accountancy and finance sector remain strong, reflecting the demand for skilled professionals. Here's a snapshot based on current trends:

• Part Qualified/Junior Accountants: €35,000 - €50,000 annually.
• Mid-Level Professionals: €50,000 - €90,000, with specialisations pushing towards the higher end.
• Senior Roles: €90,000 - €150,000 for positions such as Financial Controllers or Finance Directors.
• Specialised Roles: Over €100,000 for niche skills in areas like forensic accounting and financial consultancy.

General Market Trends

• Upskilling and Continuous Learning: Ongoing professional development is crucial to stay relevant in this rapidly evolving sector.
• Focus on Soft Skills: Beyond technical skills, attributes like problem-solving, adaptability, and emotional intelligence are highly valued.
• Networking and Professional Growth: Engaging with industry peers and staying active in professional communities can provide valuable opportunities and insights.

Looking Ahead

The finance sector in Ireland continues to offer promising opportunities for professionals at all levels. Whether you're a seasoned expert or just starting out, there are ample opportunities to advance your career with the right skills and mindset.

Thanks for reading. If you have any thoughts or insights, I’d love to hear from you.

If you are a job seeker, feel free to have a look at our live vacancies on the Eolas Website & if you are looking to grow your team then please get in touch, both will be treated with the strictest confidence.

Lastly, I would appreciate if you could either like, comment, or share this post. Stay tuned for more updates, tips, and trends in the industry.

By Mark Donnelly, Senior Manager - Accountancy & Finance https://www.dhirubhai.net/in/markdonnellyeolas/